Car crisis takes toll on Germany's young engineers
Qualified engineers faced a 3.8% unemployment rate last year as German automakers cut jobs and Chinese rivals eroded sales, officials said.
- On Thursday, workers protested at Volkswagen sites across Germany following reports that the carmaker is mulling up to 100,000 job cuts.
- German industry is struggling against what some dubbed the "China Shock 2.0," as Chinese carmakers like BYD and XPeng have eaten into sales, causing total German exports to fall almost 2 percent last year.
- Qualified engineers faced a 3.8 percent unemployment rate last year, an increase of almost 50 percent compared to 2022, while Max Peil remains unemployed despite sending about 50 applications.
- Anja Robert, who for 20 years has led the careers service at RWTH Aachen University, told AFP that even top students now struggle to find roles; guaranteed employment is no longer the norm.
- Transport economist Thomas Puls of Cologne noted that production stabilized at about 4.2 million vehicles, down from 6 million ten years ago, warning that the industry's "golden age" is not coming back.
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Car crisis takes toll on Germany's young engineers
FRANKFURT: Despite a year of searching, previous stints at big automotive suppliers and sending out about 50 applications, German software engineer Max Peil is still looking for a job.
Car crisis takes toll on Germany’s young engineers - Malaysia now
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The crisis of the German automobile companies is intensifying and numerous plants are threatening to close. Many companies are reacting with production relocations in eastern European low-wage countries. However, the search for new profits leads VW and Co. in a different direction. – A comment by Bruno Schüller. The automotive industry is Germany's most important branch of manufacturing. Almost 20 percent of gross value added in the industrial a…
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